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Senate Bill 301 |
Senate Author: Watson et al. |
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Effective: 9-1-17 |
House Sponsor: Flynn |
Senate Bill 301 amends the Government Code to update the period during which the board of trustees of the Employees Retirement System of Texas (ERS) is subject to review under the Texas Sunset Act, provide for required board member training, and require the board to develop a policy encouraging the use of alternative rulemaking and dispute resolution procedures. The bill specifies the frequency with which the board is required to adopt certain interest rates and tables and increases the frequency with which the board-designated actuary is required to make certain actuarial investigations and valuations. The bill requires the board to develop a method to collect or calculate profit share data in connection with ERS alternative investments and establishes procedures for the approval of certain alternative investments.
Senate Bill 301 amends the Insurance Code to expand the required contents of the board's annual report concerning the coverages provided and the benefits and services being received by participants under the Texas Employees Group Benefits Act and to provide for the development and maintenance of a precedent manual relating to enrollment and claims determinations arising from group coverages or benefits provided under the act and appeals of those determinations.